The joint venture between Helical and TfL’s property company Places for London has agreed a £220m development financing facility with PIMCO Prime Real Estate for the Paddington Over Station Development.

The deal will allow main construction to start on the Grimshaw designed scheme which will see 235,000 sq ft new‑build office development positioned directly above the northern entrance to Paddington station overlooking the Grand Union Canal.

Enabling works started last June with main construction set to start in March.

Mace is preferred bidder on the job with the contract set to be formally signed imminently.

The project is due for completion in the autumn of 2028.